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He’ll Always Be the First

In 1795, Wilmington native Hinton James became Carolina’s first student, and on Dec. 3, 2014, Wilmington’s Fred Eshelman ’72 became the first individual to make a $100 million gift to the nation’s first public university. (And, of course, Wilmington’s Michael Jordan ’86 made the winning shot to give Coach Dean Smith his first NCAA national championship.) Eshelman’s is the first gift of $100 million from an individual in North Carolina, the second to an ACC school and only the 24th to public higher education nationally.

DIBBERT, DOUG 7/22/02The gift will be used to establish the Eshelman Institute for Innovation in UNC’s School of Pharmacy to help fuel innovation, create jobs and spur economic development. With Gov. Pat McCrory, UNC System President Tom Ross ’75 (JD), Chancellor Carol L. Folt and Eshelman School of Pharmacy Dean Bob Blouin, along with several hundred faculty, students, staff, alumni and supporters looking on, Eshelman spoke briefly and clearly:

“I feel so fortunate to be in a position to be able to help the University. I’ve been very lucky. I’d rather be lucky than good.

“As you know, this school is more than 100 years old. This University is more than 220 years old. Both have grown from very modest beginnings to excellence in education, research and service. However, none of us can rest on our laurels. We must be relentless in our pursuit of preeminence, and I mean preeminence. This requires focus; it requires a dogged determination to be the best. … We cannot get to the top and remain there without a combination of talent — and that is both faculty and students — facilities and vision. Some of these things require money and are actually interdependent to a degree.

“As you know, this is a tough environment for additional state funding. Therefore, if we are going to, in fact, increase the pace to attain our goals, the private sector must make the investment like never before. It is one of the best investments we could possibly make for our children, our neighbors, our friends and our fellow citizens. As part of that investment, and as per the institute, we must help in the translation of ideas and research into products, into services and into tools that will be good and useful for our citizens. We must also help to give a more direct return to the taxpayers of this state.

“When I look to make an investment, I look at the underlying thesis. I look at the technology. … Equally important, if not more so, is leadership. We now have that leadership in the System president, the chairs of the boards of governors and trustees, the chancellor and the dean. Therefore, I think that we truly have the prescription for success.”

Eshelman was careful not to absolve politicians of responsibility by affirming that “I don’t want to encourage the folks in Raleigh to further cut what they’re giving us. We’re hoping … that we’ll get back on our feet there and, instead of getting cuts, we’re actually going to get some increases. Because there’s no question this is the economic engine in this state.”

Under Dean Blouin’s skillful stewardship, Eshelman has long been involved with our pharmacy school, and he has been generous to it. He previously donated $38 million, including $3 million in 2014 to support a drug discovery center; $2.5 million in 2012 for pharmacy education, pharmacy practice, research and training; $9 million in 2008 for cancer research; and $20 million in 2003 for scholarships, fellowships, faculty development in teaching and research, partnership development with community pharmacists, and residency programs.

There currently are five Eshelman Distinguished Professors at UNC’s Eshelman School of Pharmacy. In the past 10 years, the school has generated more than 130 patents and created 15 spinoff companies. Eshelman is an adjunct faculty member and has served on the school’s board of visitors for more than a decade. Founded in 1897, the school is second among the nation’s pharmacy schools in total federal research funding.

As the founder and former CEO of Pharmaceutical Product Development and founding chairman of Furiex Pharmaceuticals, Eshelman has been a keen investor, both in ideas and in people. He affirmed to me that “we on the private side, vs. government or anyone else, have got not only to fill gaps in education and research but help to increase the pace of advancement. It goes without saying that I want to help UNC be in the forefront. It is one of the absolute jewels in North Carolina.”

Curing diseases and improving lives motivates Fred Eshelman’s philanthropy. He’d prefer to give anonymously but has been persuaded that his example will inspire others. Eshelman hopes that his is just the first transformational gift to our University. Hopefully, soon we’ll learn of other philanthropy to Carolina prompted by Fred Eshelman’s $100 million gift — but he will always be Carolina’s first.

Yours at Carolina, 

Doug signature

Douglas S. Dibbert ’70

doug_dibbert@unc.edu

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